Around 55* per cent of people said they were either currently not saving enough or they had to face up to the reality of not having saved enough into a pension in the past, according to insurer Friends Provident.
A further 15* per cent of those questioned admitted they had not given any thought to saving for retirement, while 31* per cent were relying on receiving an inheritance to fund them when they stopped working.
Nearly a third of people* who have yet to retire said they would carry on working until they had enough money to stop, while
23* per cent are planning to move to a smaller home or unlock equity from their property.
But 22* per cent of people are ‘just hoping’ they will have enough and 21* per cent have not made any plans about how they will support themselves if their pension is not big enough.
*Source: Friends Provident 02/09/09
Our range of personal financial planning services is extensive, covering areas from pensions to wealth creation and tax-efficient investments. Contact us to discuss your current situation, and we’ll provide you with a complete financial wealth check.